In today’s highly regulated and competitive banking environment, it’s essential for financial institutions to be able to effectively manage their information. Enterprise content management is the ideal solution. ECM is the technologies
used to capture, manage, store, preserve, and deliver documents and content related to organizational processes, according to the international Association for Information and Image Management. ECM tools and strategies allow
the management of an organization's information—structured or unstructured—wherever that information exists. As such, ECM is vital to content preservation and re-usability, as well as to the control of access to content.
ECM: The Perfect Solution for Intranets, Portals and Websites
In particular, ECM involves content imported into or generated from within an organization in the course of its operation and includes the control of access to this content from outside of the organization's processes. ECM systems enable companies to effectively manage all of the information—digital or printed—residing throughout their enterprise. It also relates to content being published through multiple channels. ECM helps organizations create content with common desktop applications and pre-designed templates, as well as retrieve and incorporate existing content from a variety of sources. This makes ECM software an ideal mechanism for deploying intranets, extranets, portals and Websites.
Perhaps that is why recent trends indicate that ECM is becoming a core investment for organizations of all sizes. It is also
becoming more central to how companies perform and accomplish their mission. ECM certainly isn’t new technology.
However, it is revolutionizing the way financial and other organizations capture, manage, store, preserve and deliver their
Benefits of ECM
Employing ECM software can benefit organizations in a number of ways. For example, it can help a company better meet its
business goals for profitability, better serve customers and gain a competitive advantage, and better protect itself against
non-compliance and potential lawsuits.
Following is a summary of some of the benefits of using an ECM system:
Control - There is a growing need for ECM, as companies process increasingly enormous amount of information. ECM gives
organizations a way to control how content is used, reused and repurposed for other formats and applications. It also
provides complete control over access, archiving, publishing and all other uses of information.
Compliance - As a commercial entity, financial organizations must adhere to strict regulations or best practices relating to
the access, storage and use of policies, procedures and other information. For example, compliance with Basel 11 Capital
Accord, the SEC and the Sarbanes-Oxley Act is essential. ECM makes it possible to effectively warehouse and utilize information to meet these and other requirements.
Communication/Collaboration – With ECM, communication, collaboration and interaction can take place instantly—in real
time—increasing efficiency and productivity among users. Collaborative workspaces can be established to facilitate coordination of work activities between employees, suppliers, partners and customers.
Consolidation – ECM enables the consolidattion and streamlining of business processes, allowing organizations to maintain
a single system for managing documents, rich media, digital content, collaborative content and records.
Cost Savings – By promoting greater efficiency, consolidation and productivity, ECM creates significant cost savings for
Additional Benefits of ECM: